The retrenchment and intensified regulation of the traditional banking system after the global financial crisis, combined with greater access to information technology and wider use of mobile devices, have allowed a new generation of firms to flourish and deliver a wide array of financial services. What does this mean for the traditional banking system? In … Read more
Coins circulating as legal tender in national jurisdictions worldwide are treated as debt liabilities of the issuing states and reported as a component of public debt under national accounting statistics (ESA 2010). Similarly, banknotes issued by central banks and central bank reserves are accounted for as central bank debt to their holders. Although the law … Read more
In part I of this blog, we discussed the implications of our proposed “Accounting View” of money as it applies to legal tender. In this part and the next, we elaborate on the implications of the new approach, with specific reference to commercial bank money. Bank deposits and central bank reserves After long being a … Read more
In part I of this blog, we discussed the implications of our proposed “Accounting View” of money as it applies to legal tender. In part II, we further elaborated on the implications of the new approach, with specific reference to commercial bank money. We conclude our treatment of commercial bank money in this part, starting … Read more
Traditional credit scores are fairly accurate in predicting future loan performance, which is why lenders have tended to concentrate on clients with already a solid credit history, as screening them is less costly. However, interest in alternative ways to identify potential good borrowers that lack credit history is growing, particularly in countries where a non-trivial … Read more
We are happy to introduce to you today Paul Kimani, C.E.O. of TozzaPlus, a cloud business management start-up from Nairobi, Kenya. 1. First of all, can you introduce yourself to our readers, who you are, where you come from and what’s your background. My name is Paul Kimani (C.E.O/Co-founder of TozzaPlus) and I am from … Read more
LG CNS, the IT subsidiary of electronics giant LG, has been handpicked by South Korea’s minting corporation to establish a blockchain platform for the public sector to provide a number of services including issuing a community token to the masses. As reported by Business Korea, LG CNS won the order from the Korea Minting, Security … Read more
The police in Japan are cracking down on the illegal use of personal computers for cryptocurrency mining. Multiple prefectural police departments are currently investigating one particular case and pursuing criminal charges, which would make it the first criminal case in Japan where computers are illegally used for mining cryptocurrencies. Also read: Yahoo! Japan Confirms Entrance Into … Read more
A Toyota executive will be appointed to Grab`s board of directors and a dedicated Toyota team member will be seconded to Grab as an executive officer, the ride-hailing firm said.
Toyota said today it was investing $1 billion in Asia ride-share company Grab, as the Japanese automaker looks to expand beyond its core business into the “mobility” sector.